Limitation on TRS Creditable Compensation Sample Clauses

Limitation on TRS Creditable Compensation. The purpose of the Section entitled “Limitation on TRS Creditable Compensation” is to avoid in all circumstances any payment by the District of a Board-paid penalty or fee to TRS, or any Board or District liability to fund any portion of a teacher’s TRS annuity due to increase in compensation from one year to the next. This Section does not apply to teachers who are not eligible for TRS annuity (whether or not they apply) and could not under any circumstances become eligible for TRS annuity within five (5) years of the end of the school year in which the compensation is earned. No teacher’s creditable TRS earnings from employment in this School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, may exceed the amounts specified herein. No teacher’s TRS creditable earnings from employment in this School District including, but not limited to: Ÿ vertical and horizontal salary schedule movement; Ÿ stipends; Ÿ salary increases; Ÿ extra duties; Ÿ changes in position; or Ÿ Section 125 plan or flex plan benefits or contributions; shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the part of the Board or District for any portion of a teacher’s retirement annuity, or result in any District- or Board-paid penalty or fee to TRS. If the sum or percentage amount which triggers any obligation for the District or Board to pay additional amounts to cover all or part of a teacher’s retirement annuity or cover any Board- or District-paid penalty or fee to TRS decreased, then the maximum of the teacher’s creditable TRS earnings from employment in this School District shall similarly decrease so as to avoid any Board- or District-paid penalty or fee. Even if another provision of this collective bargaining agreement would otherwise provide, in the event a teacher’s TRS creditable earnings would increase by more than six percent (6%), or any such lesser amount that would trigger a District-paid penalty or fee to TRS due to salary increase in any year over a prior year, that teacher shall receive only the maximum increase to TRS creditable compensation allowed under this provision.
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Limitation on TRS Creditable Compensation. When a Tier 1 Teacher is five (5) or less years from retirement eligibility under Section 15-135 of the Illinois Pension Code, or when a Tier 2 Teacher is nine (9) or less years from retirement eligibility under Section 15-135 of the Illinois Pension Code, the Teacher’s nonexempt creditable TRS earnings from employment in the School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafter. No Teacher’s nonexempt creditable TRS earnings from employment in this School District shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the part of the Board or District for any portion of a Teacher’s retirement annuity, or result in any District or Board-paid penalty or fee to TRS.
Sample 1
Limitation on TRS Creditable Compensation. The purpose of this section entitled “Limitation on TRS Creditable Compensation” is to avoid in all circumstances any payment by the District of a Board-paid penalty or fee to TRS, or any Board or District liability to fund any portion of a teacher’s TRS annuity due to increase in compensation from one year to the next. This section does not apply to teachers who are not eligible for TRS annuity (whether or not they apply) and could not under any circumstances become eligible for TRS annuity within five (5) years of the end of the school year in which the compensation is earned. No teacher’s creditable TRS earnings from employment in this School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, may exceed the amounts specified herein. No teacher’s TRS creditable earnings from employment in this School District, including but not limited to:
Sample 1

Related to Limitation on TRS Creditable Compensation

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